Warburg Pincus has agreed to increase its stake in Singapore-based real estate fund manager ARA Asset Management from 30.7% to 48.7% through a series of transactions expected to be completed by May 2021. Fellow shareholders Straits Trading, CK Assets Holding, and JL Investment Group (an entity owned by ARA co-founder John Lim) also increased their stakes for a combined 51.3%. AVIC Trust, the investment arm of China’s state-owned AVIC Capital, exited the company as part of these transactions. Read more